Thank J.P. Morgan’s total penalties are well short of the most ever paid by a bank. That honor goes to HSBC, the London based bank that paid $1.9 billion to settle money laundering charges. However, the recent actions taken against multiple banks by the Obama Administration is a welcome relief to those on the Left, as well as those wronged by their doings. It seems, in this regard, Washington is finally getting the message. However, we must be honest. The banks will still remain too big to fail until they are broken up. $1 billion is a drop in the bucket, but it is a step in the right direction.
Posted on: Mon, 23 Sep 2013 17:59:27 +0000
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